For open source software and crypto, best play is revealing little and going slowly so theres 6 months of work to unveil piece by piece Short term moat is familiarity with a code base while long term it's liquidity, TVL & txn fees in your protocol since that's proof of security

More great feedback on epoch 8 by @TheDevanshMehta

Excited to support this and see what people will build. AI apps coming out of Pond have been super interesting, and quickly gaining traction. I'll be one of the two judges from the EF, which is sponsoring this, together with @TheDevanshMehta!

Social media changed the advertising paradigm where "half of all ad spend was useless but we didn't know which half" Similarly web3 can change how "half of all payroll doesn't contribute meaningfully but we don't know which half" Transparency let's onchain orgs cut flab

Modularising chain security so new chains don't need to spin up & subsidize their own validator set is what sets Ethereum's experiment apart from Cosmos I'm genuinely curious about why @0xPolygon & @gnosischain choose to still maintain their own validators Is there a reason beyond gratitude, that polygon was the OG PoS chain before even Ethereum transitioned so they don't now want to turn their back on their validators?

The 2 cases where prediction markets stop functioning, from @clesaege 1. existential risk markets like will AI wipe us out by 20XX since even if you win a payout is meaningless 2. where an NDA is required to be privy to information like in M&A or strategic partnerships

So I did a lot of thinking on this and; no there is absolutely no way that base or arbitrum will share their network effects willy nilly, especially since they worked so hard to build it. Arbitrum will share it with Robinhood because there is a potential upside. Why Robinhood will share it is my question. Base has no reason to share it unless it is an L3. All of them will not share it unless there’s a measurable and meaningful upside. So: superchain is a nice idea but it will never work. Shared sequencing is a nice idea but it will never work. What will work however is a hybrid approach where you let the centralised sequencer reap benefits, and only momentarily give up sequencing rights for a tangible and measurable improvement. Who they give up the right to is the question. Will coinbase momentarily let robinhood sequence transactions? Maybe. What about a credibly neutral entity like an Ethereum Block proposer? Now there we have a shot.

I always thought L2 interop is a common goal uniting Ethereumverse, but was recently educated on the nuances of the matter 😢 From a rational actor perspective, why should larger L2s like arbitrum or base be in favor of interop when it would reduce their moat by sharing hard earned tvl and users with smaller chains like celo or unichain? The implication is that the longer we take to make interop a standard, the tougher it will become due to economic incentives against by the bigger players

At ethcc @zhayitong shared he prefers VC money over grants, which surprised as I've always thought grants were lesser strings than investment His take was that money from grants is undifferentiated, whereas with VCs you can demand they get you the intro that you need

At the @UN Open Source Conference, I joined a breakout session on funding open source. We discussed tensions between current funding models, sustainability, and incentives I brought up crypto...and things got interesting... ↴